Right to buy, how long process ?

TheCatMan

Hi my Uncle went for the Right to buy scheme on his council house about 3 months ago.

But has not heard anything back since, was wondering these solicitors do they take this long ?

Roughly how long would it take to buy a council house ?

His Council is Barnet if it helps.

Senior_Paper_Monitor

3 months or more is by no means unusual from RTB1 to completion, particularly if extra borrowing for home improvements (deed of postponement) and is usually totally controlled by council efficiency or otherwise.

Ask the solicitors ??

TheCatMan

thanks will do he has emailed them already, just wanted a rough guideline for dates.

Yeh 3 months is not too bad, the council told him 6 months to a year which came as a bit of a shock....

Fingersinc

Applied for RTB on January 5th 2013. Completed May 9th 2013

Mokka

Applied for RTB Feb 2013. Last week the council responded to my RTB6 delay notice by telling me not to get a mortgage yet as they will take at least 5 more months.:mad:

Off to a lawyer tomorrow!

For a freehold (house) the procedure should take:

28 days to respond to RTB Claim notice (stating whether the tenant has a right to buy)

+ 8 weeks to send an offer with price

+as long as it takes to complete all the legal paperwork, but the landlord has to deal with the purchase 'expeditiously', which basically means efficiently and as fast as possible. If they are holding up the sale the tenant has a right to serve a Notice of Delay (RTB 6).

Is your uncle worried that his mortgage offer will expire?

TheCatMan

Fingersinc wrote: »

Applied for RTB on January 5th 2013. Completed May 9th 2013

thx for letting me know, yeah 3-4 months is not bad at all..

My uncles only coming up to month 3 so think new year by jan/feb is hopefully is done and dusted for him.

TheCatMan

Mokka wrote: »

Applied for RTB Feb 2013. Last week the council responded to my RTB6 delay notice by telling me not to get a mortgage yet as they will take at least 5 more months.:mad:

Off to a lawyer tomorrow!

For a freehold (house) the procedure should take:

28 days to respond to RTB Claim notice (stating whether the tenant has a right to buy)

+ 8 weeks to send an offer with price

+as long as it takes to complete all the legal paperwork, but the landlord has to deal with the purchase 'expeditiously', which basically means efficiently and as fast as possible. If they are holding up the sale the tenant has a right to serve a Notice of Delay (RTB 6).

Is your uncle worried that his mortgage offer will expire?

That is terrible, sounds like they are milking your council rent in the mean time when that money could be put on doing up the place!

Yes speak to your solicitor and get advise as best can, its terrible they should take just as long just to respond to a delay... its like a response to a delay of a delay !

No mortgage he borrowed the money from family from what he told me... so interest free, guess his family trust him not to do a runner !:rotfl:

Fingersinc

7 months after completing on my RTB, the council are already asking me to rent it back to them ! ! !

Mokka

If he is not applying for a mortgage it should make things easier, but the lawyers will want to know where the money comes from.

So for your uncle the time scale should be:

28 days- 1st letter telling him he has the right to buy

8 weeks- offer with price and conditions

He needs to check if the property is not overpriced (mine was)

If it is, he can appeal to the District Valuer. This will add more time to the application- over 1 month.

If he is happy with the price he needs to send Notice of Intention to Buy to the council and instruct a conveyancer/solicitor to deal with the legal paperwork.

The solicitor should give an indication how long it should take from then on.

If the council is delaying your uncle can use RTB 6 to speed things up. They have to do the outstanding thing in 1 month, if not your uncle gets his rent deducted from price purchase for the delay period.
But it might be his own solicitor that is delaying- he needs to get a good solicitor.

UltraRevenge

Ive been waiting over a year & finally theyve passed it over to there legal team to finalise the purchase - I've been told this could take another month.

In short, the process takes too long.

TheCatMan

Fingersinc:

They must really miss having your money ! don't give it up wait and bide your time maybe you can sell it when prices go silly, get your 85k + profit back !


Mokka

Thanks, yeah I have printed out that RTB6 form and documentation, it is up to him if he wishes to press forward I feel after 2-3 months you can't expect miracles.

UltraRevenge

Madness, things like this should never take a year..... but am glad to to have your information. I think I will ask him to harass the solicitor or even change it if progress not occurring. I feel 6 months is the norm considering he has no mortgage luckerly it should go fast.